Practice - Total Product
Enroll to start learning
You’ve not yet enrolled in this course. Please enroll for free to listen to audio lessons, classroom podcasts and take practice test.
Practice Questions
Test your understanding with targeted questions
What is Total Product?
💡 Hint: Think about what happens to output when you change one factor of production.
Define Average Product.
💡 Hint: It’s about finding the average output per unit of input.
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What determines Total Product?
💡 Hint: Consider how production relies on both fixed and variable contributions.
True or False: Average Product always increases when Marginal Product increases.
💡 Hint: Think about the relationship between these two concepts.
Get performance evaluation
Challenge Problems
Push your limits with advanced challenges
Given the Total Product for labor shown as L=1 (10), L=2 (20), L=3 (30), compute the Marginal Product and Average Product for levels of Labor employed.
💡 Hint: Use the differences in Total Product to find Marginal Product.
Evaluate a production function with diminishing returns. How does increasing one input while keeping others constant change Total Product?
💡 Hint: Consider the concepts of saturation in production resources.
Get performance evaluation
Reference links
Supplementary resources to enhance your learning experience.